As consumer behaviour continues to evolve digitally, small businesses and large enterprises alike are increasingly looking to transform their current business practices and processes; not only to stay relevant but to stay ahead.
It may sound like a daunting task but we have summarised the 2018 Digital Transformation Report by Skift to provide an overview of what to expect.
WHAT IS DIGITAL TRANSFORMATION
With trends changing quicker than ever before, it is easy to write off “digital transformation” as another buzzword. It doesn’t help that this transformation is difficult to define as it applies differently across a broad range of industries.
For consumers, “digital transformation” is the phenomena in which he/she is able to easily connect with many service providers or businesses through multiple channels online.
For businesses, the market opportunities have changed and with more advanced technology and insights, businesses are able to better understand customers and be more productive, creative and innovative.
FOUR PILLARS OF DIGITAL TRANSFORMATION
There are four key pillars within the process of digital transformation — experiential, personalisation, automation and readiness. For the rest of this blog post, we will break down what each pillar means for you and your business.
1ST PILLAR: EXPERIENTIAL
Not too long ago, if you had a business, chances are you would set up a store in a strategic location, display your stock, distribute some promotional flyers in the area, and wait for customers to walk in or call. While that is still applicable today, customers are increasingly looking for ways to replicate this offline experience, online. So you need to ask yourself, “How does my business look in the digital world?”
- Company website: Is your website up to speed? Is it mobile compatible? Does it display well on different browsers and does it work in less-than-ideal network conditions?
- Customer service: How are your customers being served in your online store? Is it easy for them to checkout? Is your payment gateway secure? How are you dealing with negative reviews and complaints online?
2ND PILLAR: PERSONAL
One of the biggest challenges about doing business online is how to maintain the human touch in every transaction. How do you run an efficient operation without sacrificing the unique and pleasant shopping experience that comes with personalisation?
- Customer relationship management: Are you currently using a CRM platform that gives you enough insights into your customers’ behaviours? Is it customised to suit your business? With the appropriate tools, you’ll be able to analyse customer behavioural data to formulate better user experiences, leading to improved sales performance and smarter marketing spend.
- Customer engagement strategy: How are you delivering personalised, relevant and delightful experiences with your top customers?
- Communication strategy: Do you have a system in place to reply to comments and emails often? How well do you cater for your customer’s intentions when they land on your Facebook, Instagram, YouTube page or website?
3RD PILLAR: AUTOMATION
Routine tasks and processes could be taking up precious resources. Furthermore, with marketing spilling into multiple platforms and channels, collecting and compiling data could be a huge drain on your team.
- Transactional paperwork: Are you still sending invoices and receipts manually? Are you responding to multiple Whatsapp messages to take orders and send delivery updates throughout the day? Perhaps it’s time to invest in a robust platform that could alleviate you of such tasks.
- Reporting and analytics: How are you collecting and compiling sales and marketing data? Is it done through a unified dashboard or a smorgasbord of spreadsheets, stacks of A4 papers, PDFs and admin portals? Reporting shouldn’t be a full-time job on its own, and you should be able to enjoy insightful data to make an informed business decision without unsightly delays.
- Marketing Strategy: If you are currently automating your communication with your customers, are you saying the right things at the right time, to the right people? Targeted and automated marketing creates opportunities to engage customers through highly relevant offers like welcome rewards, birthday specials, referral deals and more.
4TH PILLAR: READINESS
If you’re in a leadership position and reading this, then you’re the best person to decide whether your organisation is ready for change.
- Human resource: Is your team structured to achieve your digital goals and ambitions? Do you have the talent with the right combination of technical knowledge and business understanding to manage this transition?
- Budget and business objectives: Have you factored in the cost of this undertaking and will the investment meet your business objectives?
Going through digital transformation as a business is somewhat like a journey. Your experience will largely depend on your budget, goals, and the travel companions you include en-route to your destination. Having an experienced team navigate this path with you is invaluable, as they will steer your business away from common pitfalls, avoid costly detours and unnecessary stress.
If you’re ready to embark on this journey, contact us for a demo today.